How To Choose The Best LIC Policy

There are many lic Insurance Polices, but it is very difficult to identify the best lic policy for you as per your needs. Identify your needs first, some policies gives you more benefit at maturity, some are after death & some will help you at your retirement. So identify the needs first

If your requirement is to provide more financial assistance to your family after death, you can go for term plans. Choosing the best lic plans may help you in better way in terms of savings & security

About LIC Term Plan:
The lic term plans are best best lic plans to your family in case of death of policy holder, hence if the policy holder is survived after the tenure of the policy. The policy holder won't receive any thing. Usually for lic term plan premium are lower comparing to other plans

LIC Endowment Plans: The Best LIC Policy For Savings & Security
lic endowment plans are best fit for you, the lic endowment plans holder will pay a certain lump sum amount after maturity of the policies or in case of death of the policy holder, whichever is earlier

LIC Money Back Plans
want to get money back for every certain period; lic money back plans are one of best lic plans, this kind of polices provides security, savings, and money back to your bank account, the lic money back plans gives you money back of  your paid premiums at a regular period of intervals till the lic money back plan is expired 

Are You Planning For Retirement At Old Age:
The lic pension scheme offer better security at old age. This kind of lic pension scheme policies gives you more security at old age. These lic pension schemes are most suited for senior citizens who wants secure the life at the time of retirement

Other plans:
There are other plans like unit plans, health plans etc, choose those plans wisely, that may helpful to you as per your requirements

Ask your lic agent or execute for more details, differentiate the plans & choose the best lic plans as per your needs.

LIC Insurance Plans & Types

Life Insurance in India is offered by a periodical of players and all of them big and ruling players. Each of them offers numerous antithetical types of policies. Generally, you can select from Term insurance or Endowment policies. One strain of the endowment plan is the unit linked plan.

Term Plan:
Term insurance is the most inexpensive plan, it covers the policyholder only during the term of the protection. The compensation paid to to the nominee exclusive if the bearer dies during that period. So what happens if he lives beyond the constituent period?

Endowment Policy:
Endowment insurance helps you grapple the twin goals of savings and protection. You get time definite the sum assured non negative any bonuses, upon the maturity. Premium is mostly far higher than term plans

Unit Linked Insurance plans (ULIPs):
These plans that act a mix of protection and  investment. Significance, portion of your premium goes towards mortality charges and the put gets invested in an finance program of your action. This promotion design is a mix of debt and equity, and you get to select what percentage will be invested.

Children Plans
These plans are tailor-made responsibility your children incoming requirements in position. Ideally suited for provision their higher upbringing and expenses like higher education. One can commence and vest regularly to get lump sum amounts as grows your child. Several of the plans have features like wave of premiums in death of parent.

Pension Plans:
These are also titled Differed Annuity plans. Pension plans are great for action for your retirement age. You can withdraw one-third of the on vesting amounts

Annuities:
This is best used to get regular income on a monthly/quarterly/half period or reference base. You drop a lump sum total and the plan complement pays you a sum at the quantity wanted by you. You select to get lump sum invested initially as the payout to the nominee too.

Tax benefits under 80 c are available to all LIC Insurance Policy but you should be careful while selecting the insurance plans